Turning Rock Partners Invests $20M in United Infrastructure Holdings and Carolina Marine Structures

Turning Rock Partners and IFM Support SMC Infrastructure Partners' Recapitalization of General Asphalt

February 15, 2022

Infrastructure

Turning Rock Partners completed a $25 million investment to support SMC Infrastructure Partners' recapitalization of General Asphalt Co., a Miami-based paving contractor. The transaction was supported by debt funds managed by IFM Investors and aims to expand General Asphalt's capabilities into airport and broader transport infrastructure under SMC's Infra Build Holdings.

Ridgewood Infrastructure / Savage JV Acquires Carolina Marine Terminal

June 1, 2020

Logistics & Distribution

Transportation Infrastructure Partners, a joint venture between Ridgewood Infrastructure and Savage, acquired Carolina Marine Terminal (CMT), a multi-modal dry bulk marine terminal in Wilmington, North Carolina. Savage will operate the terminal while the JV looks to expand and operate critical transportation and logistics infrastructure across the United States.

Turning Rock Partners Provides $60M Growth Financing to Main Street Auto

July 28, 2025

Automotive

Turning Rock Partners closed a $60 million growth financing to Main Street Auto, a founder-led automotive aftermarket services platform headquartered in Atlanta, Georgia. The capital will support Main Street Auto’s buy-and-build strategy to expand its footprint across the southern United States and accelerate acquisitions and operational scaling.

Kohlberg & Company Acquires 50% Stake in USIC; Partners Group Retains 50%

August 10, 2022

Infrastructure

Kohlberg & Company is acquiring a 50% stake in United States Infrastructure Corporation (USIC) while Partners Group will retain a 50% co-lead interest; funds managed by Neuberger Berman also joined the investment. The transaction values USIC at an enterprise value of USD 4.1 billion — USIC is a leading provider of utility locate services headquartered in Indianapolis with ~9,000 technicians performing roughly 80 million locates per year. The investors plan to support further growth through investments in sales and digital capabilities to capture demand driven by infrastructure stimulus and 5G densification.

USI Insurance Services Acquires Insurance and Capital Management LLC

September 20, 2021

Insurance

USI Insurance Services acquired Insurance and Capital Management LLC (ICM), an independent insurance brokerage based in Mill Creek, Washington that specializes in marine insurance for offshore fishing operations. The acquisition expands USI's marine industry expertise and strengthens its Washington / Pacific Northwest presence; terms were not disclosed.

PMC Capital Partners Acquires UniversalPegasus International from Huntington Ingalls Industries

February 3, 2021

Industrial Services

PMC Capital Partners has acquired UniversalPegasus International (UPI) from Huntington Ingalls Industries. UPI, a Houston-headquartered engineering, procurement and construction management (EPCM) firm with roughly 600 employees and an office in Calgary, will be operated as a standalone business to pursue growth in the oil & gas and energy markets.